At GN Insurance Agency, we are committed to helping customers like you get the best coverage for your home, whether it’s a single family house, a townhouse, a condo or rental unit.
Why is homeowners Insurance important?
Home insurance gives you financial protection against unforseen events inside your home. Typical standard homeowners insurance provides you four areas of coverage:
Structure of Your House
Standard Home insurance policies are fairly self-explanatory in that it pays to repair or rebuild your home for insurance disasters such as fire or any other disaster covered by your policy. General wear and tear is not covered, but detatched structures such as tool sheds and garages are covered. Flood and earthquake damage are not part of standard home owners insurance and require separate policies.
Your Belongings This aspect of home insurance covers your belongings – furniture, clothes and other personal items in the event they are stolen or destroyed by disaster. One interesting feature of personal belongings coverage is your belongings are also covered off-premises anywhere in the world.
Liability and Expenses Liability protects you against legal action for personal injury or property damage caused by your household. The liability aspect of home insurance also provides no-fault medical coverage in case someone is injured in your home.
Additional Living Expenses What happens if your home if affected by a disaster such as a fire or a major storm? Where will you stay? This aspect of home insurance pays your expenses while living away from your home while it is being repaired. Covered expenses include hotels, meals and other living expenses.
Earthquake (optional) This provides coverage for damage to your building and contents resulting from an earthquake, there is usually a deductible. This deductible is apercentage of the total amount claimed rather then a flat amount. If you choose not to take earthquake coverage, you will not be covered for claims that arise from an earthquake.
Condo insurance is different in the sense that you own the Condo and the association has insurance on it.
So why do you need insurance, too?
In most instances the association’s coverage stops inside the exterior walls meaning that you are responsible for the interior walls and possibly for fixtures, as well as your personal property and liability exposures.
The Association insurance doesn’t cover losses to your unit as a result of a burglary, if water damage ruins your living room walls, or if someone slips on your wet kitchen floor and is injured. That’s why you need condominium insurance which is designed specifically for condo or co-op owners.This policy protects you from losses to your personal property . You will also have liability protection for bodily injury or property damage to others.
Contact us for a no obligation quote:
102 – 15905 Fraser Highway
Tenant insurance gives you peach of mind that you really shouldn’t live without.
Tenant policies are similar to homeowners insurance, except that they do not cover the structure of the building. They do, however, cover changes made to the inside structure, such as carpeting, kitchen appliances, and built-in bookshelves. If a tenant is renting an unfurnished property then tenant’s contents insurance is essential to protect personal possessions against insured risks such as flood, fire or theft.
Many tenants mistakenly believe that their landlord’s insurance will provide sufficient coverage for their needs – it won’t. In reality a landlord’s insurance policy will normally only cover the building itself and its permanent fixtures and fittings.Tenant’s insurance can give valuable peace of mind.
Different Types of Tenant’s Insurance
This covers items that are lost or damaged that need to be replaced.
Offers financial backup if something is damaged by the tenant or his guests. Reimbursement scan also be received if a person gets injured at home, holds the tenant responsible and files for damages.
This is an option ‘special items’, such as cash, LCD TV, jewelry, computers, bicycles, sporting equipment or family heirlooms. This coverage would add to premium costs.
High Value Home Insurance
As an owner of a high value home, it is important that you have the right insurance to protect your property, contents and valuables.
Our insurance agents offer a personalized service by givng you a dedicated representative who will discuss your individual requirements in detail and arrange protection for you at a premium that accurately reflects not only the value of your possessons, but also the type and degree of risk they face. We will create a personal insurance portfolio for you which may include:
- Worldwide ‘All Risk’ coverage
- Specialist cover for collections of fine art, antiques and jewellery
- Family annual travel insurance
- Cover for holiday homes (Canada and overseas) and investment property
- Worldwide cover for money and credit cards
- Home office equipment
- Employers’ liability for domestic staff
- Public liability
- Outdoor items
- Cover for students possessions away from home
For more information please contact your GN Insurance Representative.